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Increase Cash Flow and Become Rich!
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- Опубликовано: 2 июн 2015
- The trick to being wealthy is really to just spend less than you earn. Whatever income bracket you are in, you can increase cash flow by maximizing income and minimizing expenses. In this video, I concentrate on the minimizing expenses aspect.
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U r better than a lot of guys on here, good job
Thanks! Hope the vid helps. =D
Winner of a video, I've been looking for "10 passive income ideas" for a while now, and I think this has helped. Ever heard of - Qonmily Passive Formality - (do a search on google ) ? Ive heard some unbelievable things about it and my cousin got great success with it.
You're very wise, much wiser than many middle-aged people. Love your videos.
Thanks! =D
This is more realistic than Tai Lopez. Lmao
Thanks. It seems he thinks everyone can be a successful entrepreneur but can anyone be successful if you apply his formula? Not sure.
Netflix > Cable hehehe :)
Buy an espresso machine + bags in bulk > buying coffee by cup
Tesla Model 3 > Gas
Definitely trying to stop renting and buying property :(
Depends how many holes you want to plug and what your current comfortable standard of living is. Tesla Model 3... don't forget to factor in cost to charge the car and that you have to replace the battery after 7-10 year at $7-10k estimate.
amazon prime > netflix
^hell yeah. ever since i realized i had that with my prime membership I cancelled netflix
amazon firestick jailbroken $65 one time cost, never have to pay netflix $10 a month of whatever you pay them....
Lito Bear can you give more info about this? I heard people do this but idk how to set it up
Just subbed. Your lectures are more realistic than the others I've watched...
Good ideas. A lot of people out there want to be rich,retire,or just get ahead but a lot of people dont want to sacrifice,to achieve their goals, So kudos to you.
Thanks, and with this vid, hope others can do the same.
Great videos ! Very Informative ! I very much respect the fact that you are an Engineer, but lead a practical and thrifty lifestyle !
+fireknight777 Indeed, I know many engineers who are not as strict with their budgets. To me, this way is second nature.
Can't concentrate on what you're saying with that Background music!
Hmmm a huge problem indeed!
As a college student who works part time I have to be knowledgeable about my expenses. Most of my money goes to food but I see as me investing in my health
I really like listening to you, you seems like a friendly guy
Thanks! And increase your cashflow at the same time! =D
I can't thank you enough for the life lessons that should've been taught to me when I was younger keep up the good work with the Videos dude
You are very welcome. I'm so glad you went over this video. Now I gotta think of what other topics that must be driven home.
I am commenting on a 5 year old video. I agree with your reasoning for not buying a gym membership. The reason I joined the gym is my co-workers invited me to work out at the gym with them every Wednesday and Friday, and it was motivating to have people to work out with. If someone really likes going to the gym, then paying for a membership is worth it. But, I agree that you can walk or run outside, or find other ways to exercise for less money.
Love your videos! keep it coming please!. liked the bucket of water metaphor. Very easy to interpret when people use metaphors
Will do! =D
I stopped Costco gas because of the time factor..just as you mentioned..just wish I had your mindset 20 years ago I would have retired very comfortably by now.
Yes, time is expensive. I have a video on how to value our time. But some value replacing that 15 minute wait with 15 minute of playing with your niece at invaluable.
Thoroughly enjoy your work
+Carl Street Thank you! :D
In hot geographic areas, air conditioning is very expensive in the summer. If you buy 2-3 fans and put them in the rooms you use most, you can raise your thermostat a few degrees higher, and the air circulating from the fans will make the room feel cooler and fresher. Fans do not cost but a fraction of what an air conditioner will.
Have you heard of the soda bottle air conditioner? Using the force of the wind, the funnels compresses the air and then expands when inside and hence reduces the temperature inside. If only I am allowed to do it in my HOA area.
I have not seen that online, but I will go look it up. I love new ideas to cut costs. Thanks!
Completely agree with you about the gym! Hello... you can work out outside. It is right there. And do things like pushups in your home and buy some weights if you feel the need. So unless you are a really technical weightlifter, there is no point in buying a gym membership.
Gym-wise, there are two camps here. Some are very gym oriented and go all the time, others do not think you even need it. So I'll have to just agree there are differing opinions here.
You the man. I hit bottom and after seeing this, it will better my next moves by 25% or even more. Meet your new fan.
I think not spending is a bit easier than trying to make more. But you need to do both.
As you have suggested on other vids, I bought the $0.99 sim card. Not sure why, but also got charged for the phone for $29.99. Phone arrived, but no sim card (to be used in the old nice phone I have). Reached out to customer service last Thursday morning, but no reply yet. I'm thinking anything has to be better than Metro PCS. The services is not as good as when you started with it, but overall the pricing is still more affordable than other name brands! I'm hoping this will work out for me and I can start saving money. :D Thanks for all your tips. Some of us really could have used them 20+ years ago. hehe
Ahh, their checkout process is a pain and you might have had it in there and probably very hard to get the phone removed and not get a card. Yeah, really give it a shot. Don't forget to turn off auto reload so they wont keep charging you when you near the limit. It will reduce the data caps a bit but I find it's essential.
Thanks for watching my vids! I'm here now? =D
Great idea! I'm not sure how the error happened when I couldn't even get the image of the phone to come up. I went through PayPal and I never agreed to anything other than the sim card. I'm not too upset, because it would be nice to switch over kids, too. I'm thinking if I only use Maps for my data, I could get away with the free service and just use my internet at home or the other people's wifi. :D
Possibly. Just test it out and see how it works for you. It takes some adjusting to specially the terrible voice quality unless you have really good cellular connection.
Great Video, good information. With regards to Gas, if you fill in the early hours of the morning when its cooler you actually get a denser gas, and because you are paying for a volume and not weight u technically get more
Depends on the temp difference though. The anti argument to that is that the tank is insulated and wont matter much. The gas will expand sitting in the upper part of the pump in a hot day which may matter more.
Very interesting info. I would suggest no to put a background music is difficult to stay concentrated on what you're explaining.
Thanks for the suggestion. I think I got a request of that previously and all the recent finance ones do not have background music. =D Cheers.
Good call on ditching the music for future videos. The music was the first thing that caught & distracted my attention.
Great content! Keep up the good work! I really enjoy learning from your videos about management of variables and other techniques of life!
Thanks! Glad you found my channel! =D
Your always welcome my friend! I have truly learned a lot from your videos, I am still learning and I will continue learning from your channel! I really like the fact that you explain step by step of a process of something and why we should do it, what mistakes people make and effects they receive consciously or unconsciously in general for that process and how and what will help us on making and/or carrying out the correct, smart and wise procedure which you share in your channel with your personal life and other real life examples! Again, keep up the great work!
I disagree with the gym aspect, but other than that, pretty good! Cutting expenses is important, but you can only cut so much. The true key to financial freedom is to acquire as many assets as possible that bring residual cashflow.
The storage cost and foot print of free weights is usually more expensive and lower quality than using a gym, especially in urban areas
new subscriber here. I made some mistakes with my finances the last few years but am currently working on paying off debt and increasing my credit score. I raised my score over 50 points recently and was just approved for the Chase Sapphire card. thanks for your help
+shul Right on! Does that Sapphire have an annual fee? If not then good. Yeah debt should be hated and exterminated much more aggressively than most people's attitude towards it. I had my share of other debts and I usually drop everything and treat the debt like its on fire. Stop all non livelihood essential purchases and everything goes towards paying it off.
Good info. Subscribed. Looking forward to watching and learning from your videos.
Thanks for subbing! Btw, all my finance vids are under the 'Advance Finance' playlist.
The BGM is surprisingly relaxing.
Sadly it has been removed for all future vids since it annoys most.
More videos like this! Found this very helpful.
Just curious, what do you record video & audio with?
Andrey V Thanks for letting me know! I'll try to concentrate more on topics in this area more in the future. I use a Canon 5D3 with internal mic. People say the internal mic is horrible but its doing okay for me so far.
Great job with all of your videos! I've been hooked watching them and love all your illustrative examples (and mini calculations). Good luck!
Thanks for watching them! Will be making more! =D
Great job, very informatively! Please talk about vampire appliances.
Betty9971 That's a great idea! I'll probably do that within the next few videos.
Like your videos, subscribed! You make good not-so-common common sense. Really appreciate your info; keep it coming!
Thanks for the sub! Lol 'not-so-common', I like it! Thank you! Will certainly be making more. =D
DJ the Meat Man x
g
Damn... everything he mentioned about wasting money is my lifestyle. Time to change.. Great video!!!
It's good to realize what is subtracting from your goals. Then you can correct for it.
The first video I watched of yours was changing the oil on your Boxster. THAT is a huge cost savings!
=D AND if you've been doing it for a while, its easy! To me its faster than taking it to the shop and I can rest easy knowing that the oil change is thorough (I let it drip for a really long time while leveling it) and they actually changed it.
Love your videos. Long time fan. Slight correction: Coffee should be between Mortgage and car repairs. Thx.
Oh did I say it but not write it? Thanks for the correction but I cannot change the video now. =/
Yes it was a lot but you make people think about where their money is going. You should do a follow up video: show the annual savings in each category or pick a few since you did say how we must pick and choose where we will be willing to cut costs. Take those annual savings and show a compound interest chart. Show how taking your Starbucks money and investing it into a growth stock mutual fund will generate thousands of dollars in a lifetime.
I think people understand that on the surface but do not really have an intuitive sense of what that means. You can save and save for 10 years and hardly see any real effects if the market happened to be depressed. That and being savvy enough to actually believe/make gains on a stock fund. I'll make another finance vid soon.
BeatTheBush savings is for suckaz...right mr bush?
Totally agree on gym (and everything else). At beginner and intermediate levels, you actually get a better workout at home. Makes no sense to spend an extra hour, having another barrier (some days when you don't feel like it and the weather isn't great, you need more motivation to drive to gym), and spend money (membership and gas) to get an inferior workout.
Some people like it and justify it. But I never understood it.
Hi BeatTheBush,
I bought following things:
1. my first cat Honda Civic 1994 i can't get much for "her" ... and i don't want to sell it i have too much memories....
2. Honda Accord 2004 .... i drive it every they to work
3. I bought a motorcycle Honda Shadow VT 750 and i think i like it and also don't want to sell it ....
4. I bought a land by the sea and i think to build a house someday there
Tell me what should i do ....
A car that sits there. Are you paying registration fees every year. I think you should get over it and sell your old Civic if you are not using it. Or you should drive the accord twice a week and go back to driving the civic more until it breaks.
I recommend to get rid of the motorbike for your long term health. Its not a question if an accident will happen but when. It WILL happen so better be in a cage of metal than your flesh wrapped around metal instead.
Cheapest gas also has the least amount of soap in it which reduces your efficiency of your car's tank.
A few people did say cheap gas ruins your car too but I wouldn't know since good gas is cheaper than cheap gas with cash back from credit cards.
Oh lol. Now that Freedompop is now the worst company and ringplus dead what do you think about this new company that runs on sprint towers.
cellnuvo.com/index.php
Haven't used them before since I'm still using Freedompop.
I would never live in a neighborhood with a HOA. They are never with the hassle.
Very true. It's better that way.
JonO387 WHAT HASSLE? 😂 its actually LESS of a hassle because they maintenance the exterior property, maintaun the amenities, and innmist cases the water and garbage is uncluded in the monthly. If you dont have hoa you are doing all this yourself.
anglekan because for some people its a hassle to do the maintenance themselves or outsource it. Paying an hoa is not a " hassle" lol it might be seen as unnecessary or un reasonable (depending in the fee) but to say its a "hassle" is incorrect lol
Good video, 1 suggestion, please choose a better pen color. I can't barely see the green ink. May red pen will stand out better.
Thanks, green pen gets put away. I'll have to buy better markers.
Black is best
You make very informative videos. Thanks. Subscribed.
Thanks! Thanks for your sub! Welcome! =D
My new financial adviser. Like the groovy music in the background too
Apparently lots of people hate the music over my talking so I've removed it since then when I'm talking.
these are great tips. i love how you get into the details too, its really helpful for me since im starting on my own soon and i want to be as efficient as possible! i relate to you a lot haha i drink tea too instead of coffee and i agree with the gym thing :) also thank you for letting me know about gas buddy!
Better than increase cash flow by increasing cash flow? LOL. What do you mean starting on your own? Like renting your own place and supporting yourself kind of thing? Yeah I mean coffee is roasted which turns out isn't that good for you. You are very welcome and thank you for your comment! =D
Most of these things don't apply to me. I go to the gym for free, have a family cell phone plan, usually work from home, and our home is rented using our military allowance. I usually make my own coffee at home. I suppose the greatest expense is how much we eat in as I am too tired to cook after two jobs sometimes. Order up and such is so expensive. I have tried monthly meal plan delivery service and then canceled before because I am a horrible cheap person and after the trial month it is more expensive.
Very nice you get all those for free. But when I think of family plan, someone you know is still paying for it. This generally comes down to you scratch my back, i scratch yours. Hence you are still paying for it, maybe not in money but in other ways.
Lowering eat out expenses will be huge for you then. Seems like cooking a huge batch for a week or two might be the way to do it. Just take one meal out of freezer, heat it up and eat!
No...it's not like that. They have money..... they don't expect anything. They shouldn't.
the previous tenant did not cancel their magazine subscription, so I get free audiotechnology mags mailed to me every month xD
Only if you like audiotech right? Seems like they give magazine away for free these days.
thanks so much! as a college student, your videos help me a lot!
You're welcome! =D There is one particular video I made just for college students. It's about credit score here: ruclips.net/video/pxGECoQoLLA/видео.html Also, next Tuesday, I will post a series on how to study if you are interested.
+BeatTheBush I just watched it actually! :) I'd love that, thank you!
Excellent. I'm very glad these helped you. =D
10 years of a certain amount of payment and then it will forgive the rest of the loan as long as you pay it on time. I have a question about first time or starter credit cards. Which one is the best to get our start off with or do you have a video that you can direct me to?
For that loan forgiveness, it'll be interesting to know how much you end up paying over that 10 years. It seems like you'll still be paying over the amount of the principle. I do have a video on starter credit cards or 'starting out building credit' here: ruclips.net/video/pxGECoQoLLA/видео.html It concentrates on what to get and how to use it to increase your score quickly.
Thank You sir.
Tyler Lewis =D
Tyler Lewis
Stock appreciation does not count unless you sell it. Quarterly cash distributions or dividends are the recurring income to go, REIT (real estate investment trust) typically pays about 4%. MLP (Master limited partnership) typically pays about 7%. If you can lock in a cost basis of at least 200,000 it will add to your bottom line
Yes, when I talk about stock gains in cash related aspect, it's realized gains which is sold.
"You could run outside. Why wouldn't you run outside?" Nice.
I want to add... you want to run outside in a safe place with little or not cars for safety. Like at a park or trail.
How does one start on recurring income? given that I have zero knowledge on stocks and dont have a lot of money to invest?
Passive income I assume? No money means you get very little dividends. Have you thought of the middle ground of risks between a high yield savings and the stock market, i.e. bonds?
Love this video and your comment about retiring thanks
There are many schools of thought. Personally I do not think a home should be thought of as an investment unless you buy to rent. That way if prices go down it makes no difference to your finances if you buy the house.
+Bad Ass If prices go down a lot, rent prices fall so I think it does affect your finances. I guess you can think of the house as an investment or not but it becomes one as soon as you sell it.
BeatTheBush Not if you live in the house and it is your primary resident. If you buy to rent that is a different category of investor. In my case I would then be managing the rental income I would not be looking to sell the house. Each has a different view though.
I thought rents were linked more to inflation?
Thanks for the entertaining videos.
Have a happy, prosperous and hopefully level 9, 2017.
BeatTheBush If a person considers a primary resident as an investment consideration must be given for:
1. Interest paid; This may or may not be fixed for the life of the mortgage but will be significant.
2. Rent saved; Rent can be expected to rise normally in line with inflation. Mortgage payments do not.
3. Selling value of the property; Only significant if you are not going to purchase an equivalent or superior property.
4. Running costs; Maintaining and furnishing a house can be expensive. If you rent you do not have to pay to furnish or maintain the home.
5. Taxes; There may be significant taxes when buying, owning or selling a house. Even if the taxes do not exist today they could be introduced in future.
6. Relative prices; In the West house prices are significantly more expensive. In London for example my parents bought a house for about 3X my father's wage in 1960s. Now average prices in London are 14X average wages. This expansion is more luck than judgment. Purchasers today cannot expect a 4.7X expansion in house prices relative to wages.
Do you buy or rent?
BeatTheBush I will just watch your video on rent vs buying.
Rent prices... what is it linked to? Inflation probably but maybe more strongly to supply and demand of the rental market. Same supply but with more people moving in or supply not keeping up then rent goes up.
I think the buy to rent case might be when the house you are buying to rent is your secondary home. Which ever way you think of it all, I still like to just look at the book value of it. I.e. if you sold it for market price minus what you owe is what it's worth.
Gyms have a variety weight machines, not just weights. I pay $20 a month and I think that's fair. This is a premium place here that's like $100 a month. It has a swimming pool, gym and a lot more advanced but to me that's not worth it.
Everytime i go to Costco, I've never had to wait. Plus costco is always $0.10 cheaper than everywhere else and it's only one minute out of the way.
I think you got it at an optimal spot, keep doing that.
Having solar panels, and selling unused power they make, to the grid, is recurring income.
I'm loyal to Battery Electric Vehicles, because they are so efficient, especially full electric motorcycles, which are even more so. The initial cost of completely electric vehicles, is big, but because of efficiency & extremely low maintenance, that money will be made up for, in a few years or less.
And thank you for all your help.
I don't have any of those. However, how many years does it take to recoup the initial capital on the solar panels? Isn't it something like 15-20 years depending on your usage?
I see the advantage in electric motorcycles but I generally avoid them due to the relative safety issues as a matter of personal preference.
For electric vehicles, I'm actually on the other side of the fence. Its true the vehicle costs more even with rebates but the battery also has a finite lifetime. Most studies don't take that into consideration but when you do, the cost per mile of electric jumps up and over the cost of fuel.
+BeatTheBush I understand your safety concerns about motorcycles. Part of that issue, are riders not mastering their bikes & riding within their limits. The other part, is other road users, not paying attention, or just being idiots, arrogant, careless, retarded idiots. We do have to ride, like we're invisible.
No one should be afraid of bikes or motorcycling. You just have to be careful, alert, wise and brave. It takes great wisdom & bravery, just to control a motorcycle. Not panicking, properly braking instead of grabbing them, properly turning, being gentle with the throttle, brakes & steering, body positioning, and escaping collisions, are big parts of being a real biker.
And your right about amount of traveling one does & the batteries, but BEVs are improving, dramatically, and getting more affordable. I'm already loyal to them, and I think everyone should think about investing in them too.
So here's my take on motorcycles. You will one day get into an accident as a matter of statistics and it may not be the motorcyclist's fault at all, just someone causing an accident. Now, when that happens, I rather be in a metal cage like in a car than me being a squishy organic material wrapped around the metal instead. Just my preference and also because I'm a scary cat. I am afraid of motorcycling.
I see the cost per KWH lithium battery is going down but some study somewhere estimates around 2022 where the total cost will finally be cheaper than fuel. So it's coming up fast. When that happens, fuel cars will drop dead pretty quickly. You could also argue the time to get an BEV is now because by the time you need a new battery, it'll be a lot cheaper anyway.
+BeatTheBush I understand. In the bike community, people in cars are called cagers. Riders are more vulnerable & exposed, but I'm not at all deterred. I learned so much from crash videos. Learning from other people's mistakes.
I also recently learned how to turn like a professional racer. Like planes, bikes have to lean into turns, to do them. Instead of just countersteering, if turning right for example, I could stand on the pegs a little, just to lift my butt off of the seat, and sit back down with my left buttcheek, then, hanging onto the bike with the calf of my left leg, have as much of my weight on the right of bike, as possible. This is safer & more stable the just leaning the bike a lot, and if I need to turn sharper, for whatever reason, because I'm using my weight to help it turn, the bike is relatively upright, so I could always lean it more to turn more sharply.
+BeatTheBush I'm very excited to try & master this. But I'm very poor, unemployed, not being hired, and because of student debt & not knowing what credit was, until a year ago, my credit isn't good. I live in the New York City area. So I can't buy or lease, or get a loan for an electric motorcycle.
I've been thinking about prostituting, but I don't want an STI, and I have a pending girlfriend. And even though I strongly oppose this drugwar, I'm only getting involved with the drug trade, as a last resort.
I've been looking into earning money with my tablet, but surveys are very unreliable.
And yes. BEV batteries are getting much better, and by the time I should replace my battery, they should be better & more affordable, and I will do what I can, to make that battery capacity last, like not changing in extreme cold, or discharging it too much.
Very good I am going to start doing that
Remember it's a journey as reducing expenses takes practice and effort. So do some cost cutting one or two at a time and allow yourself time to adjust.
i love the music
How much seed capital do u set aside for your self employed / cottage business / home production on top of your 1Mm net worth for your COL?
A smaller house on the largest lot u can afford can also min overhead cost while allowing u to ride the realty market since value is in the land anyway. The bigger the house the more it gets filled with stuff. So smaller square footage helps with maximizing net worth. For realz
Being a cheapscate to save money for something big is just like not eating to lose weight. at some point you snap and eat a ton or in this case spend a ton. trust me, I tried both...
Can you do a video on retirement plans. What's the best way to retire on a blue collar job. IRA, pension plans , and 401 b/k.
+BelovedEssence That's a great idea as I have a lot to say about that. Please look for this video relatively soon.
Honestly an IRA plan is up to you and a tax consultant since it depend on your income. 3 IRA's I work with are Traditional, Roth, and SEP but I do know there are different ones out there like some financial institutions offer simple IRA or IRA for kids. But I agree a good topic to bring up cause ever institution has IRA plans and description or wording.
Penny James I see you look at this questions as evaluating 'different' retirement plans from various employers. I looked at the question more as 'retirement plans' as in a general plan for retirement. I kind of look at all those at one of the same. Max it out if you can but I have a pretty alternative way of investing within the plan be it right or wrong. The generally accepted method is to just toss it all in 100% vested and invest in a target date fund or low cost index and just forget about it even if the market is in turmoil. Lots of views here which will make for an interesting video.
Yes very true, lots of views.
I definitely beat the bush
bottom line to this video, dont live above your means.
That's what people say but without concrete examples, one might think everything you buy is 'required'.
Yes this was definitely very useful.
You're welcome! =D
I have only started to become financially aware in my 40s. Really regret not changing earlier. It seems to me for people who want to become wealthy at this stage of life it is best to start saving and start a business since otherwise becoming wealthy seems to be a long term plan. Would you agree? Can you do a video on what you think is best for people who are starting in middle age or maybe what the best ways to become wealthy in shorter time periods are? Obviously we want to become wealthy to enjoy that wealth at some point rather than just die with money saved up. thanks
You did an amazing job on the editing on this!
Thanks!
I believe many did not realize that you presented a closer detail explanation of Cash Flow income/expense R.K., maybe the title could have been worded better, I understand many of the ideas you presented, and enjoy them..... I really like the idea of buying something and think about the recurring cost, who does that? lol..., but to point out the thought of recurring costs, is smart.....on the other hand, just a thought, why so much editing is involved, I know we tend to say things you don't want heard, but who really cares, its works, but maybe it can be a bit cleaner or edited less, anyways I would like to chat sometime. Please let me know the best way to contact you.... thank you for the great videos..... thumbs up
What's R.K.? Thanks for enjoying the vid. I think the editing has to do with my inability to continuously express thoughts without messing up my words or saying um all the time. I am a bit a work in progress and the latest videos should have less and less cuts. I actually prefer to just discuss anything on the comments section but if you have things you do not want to share publicly, you can go to my channel page and go to the about tab. In there, there will be a "message" button where you can send me a message.
Was not expecting such a fast response, step out, thanks though for replying, R.K. meant Robert Kyosaki, I believe you have many good ideas, I believe, I feel the same about myself, I just don't post any on youtube, I would like to just discuss ideas that come to mind sometimes, again thanks for all the great videos, if you have time, I would like to just get some insight on things...... I will message later...thanks
Oh him, lol. Okay got it.
I’d absolutely take a $300 a month pay cut for the google food. I’d probably take a $1k cut for the google atmosphere, lol.
Hmmm.. interesting. But I think they pay you more AND give you food. You become assimilated and part of the whole unit.
Why Cashimprove?
To build a better future.
You're so smart. Model Asian guy!
Lol, thanks. =D I really should circle around and make more finance videos.
Yes more finance videos would be greatly appreciated by me, and many others.
fireknight777 Do you have a topic in mind?
What's DSL?
Digital subscriber line. It's a form of internet.
If you are ever on a first date, I strongly recommend that you do not go into your gas purchasing strategies.
Lol... I generally do not talk about gas strategies unless I am asked.
Beat the Bush. TY there should be more people like you. You are my GURU🙌 My $$$ keeps on growing..my co workers all have iphones and i just have and at&t samsung to go...The difference is I have lots of money than they do...lol. Please thanks once again for your service to humanity⛦⛥⛥⛥⛥⛥⛥⛥⛥⛥STARS
fantastic overview
thanks!
The gym is one sacrifice that I make, included in my early retirement plan costs
Nice... I guess it can be very cost effective if you go regularly.
love this vid. this concept was the ah-ha key that got me really paying down debt fast & saving. it's was overwhelming but i set a goal of taking each line item of my budget expenses and spending 2 months on reducing one line item. typically i'd spend about 2 wks researching options for that line item then the next 6 wks executing. it got faster as i got the momentum going but in just a few months i turned things around quick. the biggest reduction was my cell phone bill! and i was 'leasing' a phone and didn't know it! doh! Lol and btw - is it just me or does costco gas burn quicker? i did an experiment with gas & only filled up when the light went on and filled up the entire tank. then i reset my odometer and noticed that i'd get less miles out of the costco gas on average versus other stations.
Great content here!
=D Thanks!
I thank you for sharing your knowledge with us. I appreciate your time and you have earned a viewer and subcriber.
You're welcome and welcome to my channel! =D
Fees and interest rates are what kills people money, its like a slow bleed that kills and you won't even know it.
I'd say yeah it's a huge drain. Gotta attack those slow drains aggressively and pay off all those loans.
great advice man! once i start banking hundred thousand millions, i will make sure you get your cut! seriously great video thanks man!
=D I'm glad you found the vid useful. Remember, watch those recurring monthly fees like a hawk.
Have you considered renewable resources like Solar panels for electricity?
Yes. But the laws governing reselling electricity during the day makes it a wash. Plus, even if you go that route, it'll take 20 years to recoup the costs. I think it makes sense for people who have higher electric bills than mine.
Nice video, thanks....
You're welcome! =D
haha i love these videos, are you in the finance industry?
Husky!!! O_O. Thanks! No, not in finance. I'm in engineering.
Hello. I'm liking your videos but the music in the background is distracting me a lot from what you're saying. Maybe it needs to be much, much lower or just put music in the beginning and in the end of your video? Just my opinion. Thank you for your knowledge!
Sorry about the background, that's when I didn't know better. I have removed background music for at least a year now.
What about student loans sir?
+Tyler Lewis Are you asking about consolidation, paying it off vs. not, or how that factors into cash flow?
Yes exactly sir. I am currently in a student loan forgiveness program. how does it effect my net?
Tyler Lewis It sounds like it would help no matter what. When they forgive means you don't owe them anything. What are the terms of forgiveness?
I LIVE ON 2000.00 A MONTH TO MONTH, lOVE MY WORK, THANK YOU
$2000 is 2000. What you get with it is a different story. Hope you get a lot.
How could I calculate my cash increase if increase the payment terms from my suppliers?
I don't understand the question. If you increase the payment terms they pay you more so your cash is increased by the same amount.
Does synchrony online bank also have a checking account? And also does it have an atm card with a physical atm machine that I go to to withdraw cash?
It seems no they do not. They do have an ATM card but the only free usage one is in Bridgewater, NJ. So you can withdraw from Plus, NYCE or STAR logo ATMs but the ATM will charge you a fee $2-5. Due to the fee, it seems the best way to use this online account is do electronic transfer to another bank where you can then write a check or do ATM withdrawals.
Awesome, very helpful! Thanks man
Isnt your net worht what you are left with after the expenses? So wouldnt the expenses flow to your net income and then add a minus sign above it? Thx!
Expenses does reduce your income. Not sure what the disconnect here is.
thats a nice video BTB. thanks.
how much is the tax for owning a house? roughly.
1.5% of purchase price. Increases very little every year. Roughly.
I threw my trash partially everywhere like malls and restaurants lol
Great Stuff!!
I like this music. thanks for the vid.
+esjihn Thanks for watching! Hope you really step on the gas on accumulating wealth if not already. =D
+BeatTheBush I'm trying very hard although I'm in the baby steps of recovery. I just raised my score enough for a secured credit. so as soon as I pay off the bad debt and my own time payments from my school loans and auto I just purchased start coming through hopefully I will have everything better in a year. wish me luck
+esjihn Ahhh, very good luck to you in getting rid of the bad debt ASAP!
+BeatTheBush thanks a ton!
Hey here's a very important tip you should probably draw or animate some of your concepts during this video i didnt have much motivation to stay on the video i left to talk to someone without pausing i recommended and i promise it will work
Lol... there's gold hidden inside this video. Only for those willing to listen.
omg you are sooo funny!!! You want to run in a safe place so you don't get run over hahahahha
Lol... I find it dangerous for a bicyclist riding in traffic. The danger is too much in a city setting in an effort to save gas.
I would rather have $100 now and invest it than $1 a month for the rest of my life which is approximately ~ $900
I love your videos!
Thanks! =D
But if these things are personal lifestyle choices how can I blame society for my problems?
You can blame the difficult in going against the grain. Which is to not listen to the ads and buy everything everybody seeks.
Net worth has nothing to do with income. Net worth is assets minus liabilities.
What kinds of passive income do you recommend? I don't have a lot of extra money right now but I want to start somewhere.
You should start with saving a good emergency fund. It's important to have a cushion where it's in cash because it gives you confidence and financial backing to weather any sort of emergencies. After that you go for passive income.
I know a lot about personal finance and wealth building. This video confused me.